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Budget, Insure, and Invest Wisely

Budget, Insure, and Invest Wisely

April 11, 2023

I started Kobo Wealth Strategies in November of 2020. Yes, that was in the middle of the pandemic at a time when we weren't really able to go out and see people. What many people don't know is a month after starting my company, and in the midst of trying to transfer clients from my prior firm, I caught Covid! Here I was trying to launch a new business endeavor and I was at home with my wife with Covid. Thank the good Lord I'm here to tell the story. I bring this up because it is proof that when you start anything with a plan and the right intentions, there isn't anything that will stop it from being successful. In the conceptualization of this company, I wanted to make sure it had a focus. We needed a mantra that we could get behind. After all, Nike has "just do it". Allstate has "you're in good hands". Capital One has "what's in your wallet". At Kobo Wealth Strategies, our mantra is "helping you budget, insure, and invest wisely". What does that mean though? How do we help our clients to do those things effectively?

The first thing we help you do is focus on your budget behavior. Many of us, if we're being honest, don't keep a track of everything we spend money on. A lot of people have a negative connotation about the word budget, but here's the thing: a budget actually frees you to make better choices with your money. It might seem counterintuitive, but think about it. When you have a plan for your money and you have designated how you intend to spend it, when there is a surplus you can make better financial decisions. There is freedom in structure. It's sort of like a great team with a planned offense. When you know the plan and everyone is in sync, you can take what the defense gives you. It's the same with your finances.

When we say insure wisely, it simply means having the appropriate protection in place to maintain the integrity of your financial plans. Life, disability, and long-term care insurance makes sure these sudden life events won't prevent you or your family from being able to be financially sound. In addition to that, we suggest that you review your health, home, auto, and other liability insurances as well. Finally, when we say invest wisely, we mean having a plan for how you will invest. Most people who avoid investing do so because they believe it is gambling. When we hear that, we immediately identify that as a lack of information which leads to discomfort. When you have a trusted advisor to help you sift through the noise and get the information you need to make the best decision possible.

In the end, we invite people to work with us because our mantra is not just a slogan. It's our mission for every client we speak to.